Malaysian oil and gas company Hibiscus Petroleum has partnered with Ithaca Energy and Caldera to develop the Marigold field, situated approximately 250 km northeast of Aberdeen in the central North Sea.

The Eirin field, discovered in 1978, holds an estimated 27.6 million barrels of recoverable oil equivalent, primarily gas.

This coexistence is considered feasible and valuable for both oil and gas and renewables in Norwegian waters, despite the challenges involved.

Hartshead Resources NL (HHR) and Rockrose Energy, the joint venture partners behind the project, have also received bids for the construction of platforms.

These structures were expertly removed by Heerema Marine Contractors' Thialf semi-submersible crane vessel, marking a significant milestone for the port.

This groundbreaking collaboration seeks to replace the conventional utilization of high-cost subsea umbilical cables, potentially revolutionizing small North Sea tiebacks and offering a cost-effective means of extending the lifespan of the UK's aging production hubs in the North Sea.

This achievement comes only shortly after the Norwegian Petroleum Directorate (NPD) granted consent to the licensees of the Statfjord Øst field for the utilization of new facilities associated with a gas lift project.

This accord aims to avert potential industrial action. However, Chevron remains embroiled in a labor standoff as it lacks a comparable agreement.

While it generated a substantial profit of £1.2 billion in the first half of 2022, its pre-tax profit for the six months ending in June fell to £337 million.

Through a newly established agreement with CapeOmega Carbon Storage, TotalEnergies is set to acquire CapeOmega's 40% participating interest in a CO2 storage exploration license situated offshore Norway.